Cargill Metals and Blastr collaborate on green steel supply 

Cargill’s metals business, Cargill Metals, has signed a memorandum of understanding with decarbonised steel developer Blastr Green Steel to provide green steel, in a bid to drive ferrous supply chain decarbonisation. 

The partners will work together to supply fossil fuel-free steel in the Nordic region. The duo will speed up the development of projects to help the sector reduce carbon dioxide emissions significantly. 

The alliance will leverage the know-how of Cargill Metals in raw materials sourcing, capabilities in ocean transportation and logistics, and green products development for market, risk management and financing facilities. 

It will also use Blastr’s expertise in industrial decarbonisation, along with access to capital within green energy and carbon dioxide abatement. 

In the next phase, the two firms will focus on the final technology selection, location and the final product mix, as well as green power access.

Cargill Metals managing director Lee Kirk said: “Solving the decarbonisation challenge of the steel industry requires new and innovative partnerships."

Explosion at Turkish Hard Coal’s underground mine in Turkey kills 41 

An explosion in a coal mine in Turkey’s northern Bartin province has killed at least 41 people and injured several others, reported Reuters, citing Turkish President Tayyip Erdogan. 

The explosion occurred on 14 October. At that time, 110 people were working in the mine, which is owned by state-owned Turkish Hard Coal Enterprises. Following the accident that took place 350m below ground, Interior Minister Suleyman Soylu said 58 were rescued by teams or escaped by themselves. 

According to initial indications, the blast was triggered due to firedamp, which refers to methane in coal mines, according to the authorities. 

Turkey Energy Minister Fatih Donmez was cited by the news agency as saying that the fire was largely contained in the mine while cooling and fire isolation efforts have been ongoing. 

The accident is considered to be the deadliest in the country since the Soma coal mine disaster in 2014 that killed 301 in the western town of Soma due to an underground fire. 

One worker who managed to escape on his own was quoted by BBC News: “There was dust and smoke and we don’t know exactly what happened.” 

Ferrexpo suspends production in Ukraine after missile attacks 

Swiss mining firm Ferrexpo has temporarily paused production in Ukraine following damage to state-run electrical infrastructure by Russian missile strikes. 

The company said no workers had been injured by the attacks. The missile strikes have damaged state-owned electrical infrastructure located outside Ferrexpo’s operations. 

As a result, the power supply to the firm’s operations is currently limited and currently being used only for critical equipment needed for essential services, as well as local communities.

Despite the incident, Ferrexpo said it currently has a “sufficient volume of its products”, either in stockpiles or transit, to meet its anticipated sales volumes. 

At the start of the Ukraine conflict, Ferrexpo issued force majeure notices to some of its customers after exports were halted at one of the country’s southern ports. The company owns a berth at the port of Pivdennyi, formerly known as Yuzhny, which it uses for shipping pellets to customers. 

Ferrexpo CEO Jim North said: “At Ferrexpo, since the start of Russia’s invasion of Ukraine in 2022, our first priority has always been our people, and we are working to ensure the safety of our team in Ukraine."

Jervois begins commissioning Idaho Cobalt Operations mine 

Australia-based cobalt and nickel supplier Jervois Global has started the commissioning of its Idaho Cobalt Operations (ICO) mine site near Salmon, Idaho. 

The mine is expected to reach full production capacity by the second quarter of next year, when it will be the US’s only primary cobalt mine. This mine will produce a cobalt concentrate that will be further refined into the critical metal required for electric vehicles, energy generation and distribution, defence and other applications. 

Jervois expects the ore delivery to the plant on the ICO site to begin this month. Underground mine infrastructure, including the underground fuel island and triple clarifying sumps, are nearing completion.

The company expects the ICO to contribute to the US’s national security by securing a domestic supply of cobalt, which has been designated as a critical mineral by the US Government. 

In addition, Jervois has an option to refine cobalt concentrate from ICO at its fully owned São Miguel Paulista refinery in São Paulo, Brazil.

In a statement, the company said: “Jervois is proud of its environmental record to date and plans to continue to demonstrate its ability to operate ICO with strong environmental stewardship."

Brazil-based Cosan buys 4.9% stake in iron ore producer Vale

Brazilian conglomerate Cosan has acquired a 4.9% stake in iron ore producer Vale through one of its subsidiaries.

The deal was funded by a combination of credit lines, including the private issuance of commercial notes, and financing concerning derivative instruments.

The deal is part of Cosan’s plan to diversity its portfolio by investing in “irreplicable assets” in sectors with clear competitive advantages in Brazil. Controlled by Brazilian billionaire Rubens Ometto, Cosan will pay around $4.04bn (R$21bn) for the stake in Vale, which is the world’s second largest iron ore producer.

The company is also considering buying an additional stake in Vale and would immediately seek clearance from the Administrative Council for Economic Defense (CADE) for this transaction.

Cosan added that it would inform its shareholders and the market of any new developments around the deal. The company’s stake in Vale is expected to reach 6.5% subject to approval from Brazil’s antitrust regulator.

In a press statement, Cosan said:

“Until CADE’s decision, the company will be exposed to an additional and exclusively financial position of 1.6% of Vale‘s equity through a derivative transaction that is different from the one used for the acquisition, which might be converted into direct acquisition with CADE’s approval.”

Vale and SHS to jointly develop green steelmaking solutions 

Brazilian mining company Vale has signed a memorandum of understanding with German steelmaker Stahl-Holding-Saar (SHS) to develop solutions for carbon-neutral steelmaking. 

The two firms will jointly study and explore the use of Vale’s green iron ore briquettes and direct reduction pellets in steelmaking, as well as Tecnored technology and a briquette plant located near SHS’s facilities.

The move is expected to contribute to Vale’s target to reduce its net scope three emissions by 15% by 2035. 

Vale also aims to lower its absolute scope one and two emissions by 33% by 2030 and attain net-zero emissions by 2050.  

Earlier this year, Vale and Nippon Steel signed a memorandum to enact carbon-neutral steelmaking processes. The firms will jointly research the use of raw materials that will contribute to direct reduced iron, green mould pig iron, green briquettes and other carbon-neutral steelmaking processes. 

The partnership came after Nippon Steel announced its Nippon Steel Carbon Neutral Vision 2050 in March last year. This plan positions global environmental issues as a “vital issue” for Nippon Steel‘s business management and aims to consider and carry out several measures in line with this. 

In April this year, Vale began developing a $345m low-carbon pig iron plant in Marabá, Brazil. Located near Vale’s iron ore open mine at Carajás, the facility is expected to have an annual output of 500,000t and is scheduled to become operational in 2025.